Manufacturers and distributors of expensive implants and other medical supplies often require buyers to sign non-disclosure agreements treating all information concerning negotiated prices as trade secrets. Such agreements make it difficult for hospitals to obtain accurate pricing benchmarks. To...

We characterize profit-maximizing strategies for a monopolist who sells to risk-averse buyers in two time periods and may deliberately randomize the occurrence of clearance sales. Our theoretical investigation shows that such a randomized strategy is optimal whenever the seller's capacity...

Medical specialists treating chronic conditions typically face a heterogeneous set of patients. Such heterogeneity arises because of differences in medical conditions as well as the travel burden each patient faces to visit the clinic periodically. Given this heterogeneity, we compare the...